Metaplanet Boosts Bitcoin Holdings to 2,100 BTC, Raises $20M in Equity

Metaplanet, a technology company, has recently bolstered its cryptocurrency holdings by acquiring an additional 68.59 bitcoins (BTC), bringing its total to 2,100 BTC. This purchase, valued at approximately $6.6 million, was made at an average price of $96,335 per bitcoin. The acquisition represents a significant step for Metaplanet, as it now holds 0.01% of the total BTC supply that will ever be mined, which is 21 million BTC.

In conjunction with this purchase, Metaplanet has raised $20 million in equity capital within the first two trading days of its "21 million plan". This plan aims to align the company's bitcoin holdings with the total supply of BTC. Additionally, Metaplanet has announced a 10-1 stock split to be executed on April 1, following a reverse 1-for-10 split that occurred just eight months prior.

Metaplanet's shares have shown resilience in the current market, trading up over 1% at 6,260 JPY. The company's strategic approach to cryptocurrency investment and its commitment to aligning its holdings with the total BTC supply have positioned it as a notable player in the tech industry.